PDR – Update – Concentrating resources on key projects
Posted: Aug 25, 2025
- In 2Q25, PDR recorded a net profit (NP) of VND 65 bn (+28% yoy) primarily driven by financial income. In 6M25, PDR reported net profit of VND 116 bn (+13% yoy), only achieving 16% of our previous FY25 forecast.
- We expect PDR to concentrate their resources on key projects while gaining medium-term momentum from two pilot projects in Bình Dương. NP for 2025-2026 is projected to increase by 329% and 71% yoy, respectively.
- Reiterate ADD rating with a new target price of VND 27.900 per share.
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